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Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
 COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal reference price for coal sales in February 2013 gained 0.91 percent compared to last month. The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price for February 2013 at US$ 88.35 per ton, US$ 0.80 higher than January 2013 bench mark Price.
This coal benchmark price was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the January 2013 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-5900 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25%.
Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur 0.8% (arb), Ash Content 15 % (arb) and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 28 February 2013.
Energy and Mineral Resources Deputy Minister Rudi Rubiandini said early last month that, the Indonesian coal output would increase by 1.2 percent to 391 million tons from 386 million tons last year. According to, one of the leading English news paper in Indonesia, the Jakarta post, that the government had expected the Indonesia coal reference price (HBA) to reach over US$100 per ton this year following potential economic recovery as showed by the recent US fiscal-cliff budget deal, as quoted by Deputy Minister.
The country’s average HBA last year only reached $95.5 per ton, far below the average price level of $118.4 per ton throughout 2011. The January 2013 Indonesia coal reference price (HBA) has jumped by US$ 5.80 per MT or 7.09% from December 2012 price and the February 2013 price has up only by 0.91 percent M-O-M. If HBA continues its journey on this trend then, it may reach government prediction within end 2nd quarter 2013.
In the meantime, world coal analysts and coal industry experts are also predict that, the coal industry and price will improve in coming months as the consumers are back to field to source the coal.
RBS Morgans chief economist Michael Knox said last November, during Brisbane's Major Projects Conference, of all commodities, oil prices always hit the bottom first before beginning to rise, followed by metals including iron ore. Metallurgical coal - used for steel production - was always later, followed by thermal coal.
"In coming months you will see a base in metallurgical coal," he said during conference cited by sunshine coastal daily of Australia. "You'll be able to say in a year's time that the low in metallurgical coal is behind us and you will see a rally (in prices). "Six months later, you will see a rally in thermal coal,” he said, the media further said.
Goldman Sachs, expects met prices to average US$178 per tonne in 2013, rising to US$195 per tonne in 2014. Many other analysts have made similar predictions, according to Northern Miner.
The government of Indonesia has been publishing a monthly coal reference price (HBA & HPB) since January 2009 to be used by coal producers for all spot and term contracts. However the full implementation of HBA has started only since September 2011.
The February 2013 HBA is 23.23 percent or $ 20.82 lower Y-o-Y basis.
The price was only valid for the spot price (loading on or before 28 February 2013), while as for term price (up to 12 months supplies), the average reference price (HPB) of the previous 3 months will be used to determine the selling price. (50% of latest available month HPB, 30% of one month prior HPB and 20% of two months prior HPB).
Government also declared reference price for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands are acted as the benchmark and used to calculate other 62 coal types with a quality similar to the coal price markers.
For sales in barge, the reference price is reduced by barging and transshipment costs from barge to vessel.
The coal reference price, which has been established to fulfill the requirement of mining law 04/2009 and latest ministerial decree 17/2010 and also aims to increase government revenue from royalties from coal producers. According to industry, all existing coal supply agreements with Indonesian coal mining companies have been revised to comply with new coal pricing regulation, which was fully implemented on 23 September 2011.
The government has recently introduced export duty for unprocessed minerals but coal was missing in the recent regulation. According to Mining law 04/2009, the coal producers of Indonesia were asked to add value for their product such as washing, crushing, blending and upgrading to have a higher-value product prior to eye on the export market and avoid proposed export ban. However the industry players are in opinion that, the government may not proceed further with LOW GCV coal export ban by early next year as planned earlier.
According to local media reports, the Supreme court of Indonesia had ordered the government to withdraw four chapters in the regulation, including one chapter limiting the exports of raw minerals since May 6. According to Ministerial Decree No. 7 on mineral processing, mining companies would only be granted mineral ore export permits after receiving CNC for their business licenses as well as showing commitment to establish smelters or cooperate with other companies to process their mineral ores for export.
Click here for complete Indonesian coal reference prices since January 2009.(cs)
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Thursday, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
Thursday, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
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- MS Steel International - UAE
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- Baramulti Group, Indonesia
- The University of Queensland
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- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
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- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
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- Bhatia International Limited - India
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- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
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- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- The Treasury - Australian Government
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- PTC India Limited - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Planning Commission, India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
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